A dispute contract is a contract between two or more parties in which the parties seek resolution of a dispute. Various reasons can cause disputes to occur, including delays in the completion of a project, unfulfilled obligations, and misunderstood contract terms. If a dispute arises, the parties must settle on a remedy and pay the necessary amount. If there is no agreement, the parties can proceed to court. However, settling outside the courts is faster and less expensive.
Traditionally, legal cases are divided into four parts. The introductory section contains issues that arose among the parties, while the decision and conclusion sections contain the relevant provisions of the contract. Text mining was used to identify common terms and issues. In this study, the most common issue cited in legal cases was liquidated damages. This is the type of remedy that can be applied by the government in situations where a contractor is unable to deliver the goods and services for which it is contracted. The same is true for the remedies available when the government terminates the contract. Likewise, if a contractor has performed its contractual obligations but has not delivered the goods and services, the government can re-procure the same.
In addition to contract conditions, issues related to the settlement agreement may also be important. This includes equitable adjustments, the payment of money, and other remedies requested in the Contract Dispute. Several standard construction contracts have clauses related to the final account, which signifies the amount the contractor must be paid upon completion of the work. These types of agreements are commonly used by parties when they cannot reach a settlement through other methods.
Another important legal element in a dispute contract is a letter of intent. This should clearly describe the scope of the letter and its purpose. A neutral third party must be chosen and specified in the letter. It should also include a provision that states that it is not admissible as evidence of liability. A good letter of intent can help avoid disputes in the future.
As part of the investigation, text mining was used to identify terms and other aspects of a dispute contract. These terms were classified into similar topics using the document-term matrix. The terms were then analyzed for their frequency and significance. This allowed a general understanding of the legal issues involved. Similarly, a lexicon was created to classify terms into topic groups that are common. By analyzing a corpus of construction adjudication cases, the researchers identified numerous contract conditions and other elements that are deemed to be relevant in dispute resolution.
The use of mediation in a dispute contract is usually a cost-effective way to settle. It is also quicker and allows the parties greater control over the outcome. Alternatively, it is also possible to go to arbitration to settle a dispute. It is a procedure in which a lawyer or a retired judge helps the parties to resolve the conflict without going to a judicial court.